For many families, the month of April during senior year is a tough time! They may have survived the college visits, SATs, essays, and applications, but now they have a big decision to make: choosing the right college!

The decision may include many different factors, but once you know where you’re applying, you will have to send in a monetary deposit to secure your spot in the class and in a residence hall (if you’re living on campus). The deadline for submitting your deposit is May 1st, no matter where you’ve been admitted. If your college of choice has limited housing, depositing earlier may guarantee you better housing, so at these institutions, the earlier you deposit, the better. After May 1st, you will not get a refund on your deposit; and because most colleges require a deposit of $500 to $800, it is important to think carefully about where you deposit.

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